Hudson’s Bay Canada in Talks of Taking Over U.S. Chain Neiman Marcus


Neiman-Marcus-Hudsons-Bay

As originally reported by the Wall Street Journal, the Hudson’s Bay Co is rumoured to be in talks with the U.S. retail chain Neiman Marcus to buy out the struggling company.

Neiman Marcus released a statement that neither confirmed or denied who they were in talks with, but instead said that they were hiring financial advisers to “explore and evaluate potential strategic alternatives”.

The Hudson’s Bay Co also says that it is part of their company policy to not comment on rumours and speculation, so they too have neither confirmed whether or not these ‘talks’ are more than just speculation.

Neiman Marcus has been carrying a long-term U.S. debt of $4.4 billion and in their last quarter they reported sales that were lower by 6.1 per cent when compared to the same period last year.

The Hudson’s Bay already owns a number of American retailers, some of the most well-known including banners like Saks Fifth Avenue, Lord & Taylor, Gilt, and SAKS OFF 5TH.


One response to “Hudson’s Bay Canada in Talks of Taking Over U.S. Chain Neiman Marcus”

  1. Christopher says:

    Brick and Mortar stores are dying in North America. In Canada it will go faster then in the US but overall it will happen across North America.
    The Bay will get bought by another Retail Chain, then in time; the stores will close permanently. Hudson Bay is delaying what will happen regardless to their chain. The next round of retail chains that will begin to see the effects as clothing chains and electronic chains closing in Canada have experienced is; Grocery Stores.

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